Cattle futures closed lower Wednesday on likely profit taking and the absence of weekly cash fed cattle direction.

Toward the close, Feeder Cattle futures were an average of $2.38 lower. Live Cattle futures were an average of $1.67 lower.

 Negotiated cash fed cattle trade ranged from mostly inactive on very light demand to a standstill through Wednesday afternoon, according to the Agricultural Marketing Service.

Last week, FOB live prices were $196-$197/cwt. in the Southern Plains and $200 in Nebraska and the western Corn. Dressed delivered prices were $315.

Choice boxed beef cutout value was $2.82 higher Wednesday afternoon at $328.61/cwt. Select was $1.46 higher at $306.89.

Grain and Soybean futures were lower Wednesday with pressure from the higher U.S. dollar and perhaps some positioning ahead of the monthly World Agricultural Supply and Demand Estimates and Grain Stocks report due out this Friday.

Toward the close and through Sep ’25 contracts, Corn futures were 2¢ to 4¢ lower. Kansas City Wheat futures were 5¢ to 6¢ lower. Soybean futures were mostly 1¢ to 3¢ lower.